Will McDonough - Founder At iCash - The Nature And Scale Of Blockchain Activity Necessitates Trustworthy Inputs
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 2 August 2018
⏱️ 20 minutes
🧾️ Download transcript
Summary
iCash is a Team, a Technology, and a Token. All three elements are united in the service of using peer-to-peer Smart Contracts to empower direct and trusted interaction across boundaries with low fees and decentralized authority. iCash introduces the Proof of Trust (PoT) protocol as a multi-platform blockchain application that enables decentralized Smart Contract settlement and validation at scale.
The most celebrated aspect of blockchain technology is that information is stored in an immutable ledger without the need for a central authority or intermediary. Despite this, not enough attention is paid to the negative impact created when an input to the blockchain is not trustworthy. The nature and scale of blockchain activity necessitates trustworthy inputs.
While Proof of Work and Proof of Stake provide distributed trust for data storage, the introduction of PoT provides distributed trust for data input. By adding a trustworthy application protocol layer, real-world interaction and events can be verified before being entered into the blockchain.
Transcript
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| 0:00.0 | This Podcast is brought to you by Monarch, the ultimate payment solution for both businesses and consumers. |
| 0:07.4 | The Monarch wallet is the first wallet that can send recurring blockchain payments for your monthly bills and convert crypto into Fiat. |
| 0:16.6 | Learn more at monarch token.io. |
| 0:20.8 | Welcome to almost here, round the corner of Future Technology Podcasts with Richard Jacobs. |
| 0:26.0 | Future Technologies, ways to transform our lives for better or worse are the focus of this podcast. |
| 0:32.0 | Almost Here, means these technologies are now |
| 0:34.9 | here and starting to be used or just around the corner. From Bitcoin to |
| 0:39.5 | Artificial Intelligence, 3D printing, blockchain, virtual reality, and more. |
| 0:45.0 | This podcast is brought to you by Monarch, the ultimate payment solution for both businesses and consumers. |
| 0:52.0 | The Monarch Wallet is the first wallet that can see. for both businesses and consumers. |
| 0:52.6 | The Monarch Wallet is the first wallet that can send recurring blockchain payments |
| 0:56.9 | for your monthly bills and convert crypto into Fiat. |
| 1:01.4 | Learn more at monarch token. I. |
| 1:04.0 | O. |
| 1:05.0 | Hello everyone and welcome to future tech podcast. I'm your host |
| 1:10.0 | Juliet Lamar and joining us today is Will McDonough. |
| 1:14.2 | He is the founder at ICASH. |
| 1:17.2 | Welcome, Will. |
| 1:18.5 | Thank you. |
| 1:18.8 | Thanks for having me. |
| 1:20.0 | Absolutely. |
| 1:20.6 | We're very excited to learn more about ICash and what you're doing over there. |
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